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HOUSTON, Feb. 17, 2021 /PRNewswire/ Weatherford International plc (OTC Pink: WFTLF) ( Weatherford or the Company ) announced today its results for the fourth quarter and full-year 2020.
Revenues for the fourth quarter of 2020 were $842 million, compared to revenue of $985 million and $261 million in the Predecessor and Successor periods of the fourth quarter of 2019, respectively. Reported operating loss was $107 million in the fourth quarter of 2020, compared to an operating loss of $316 million and operating income of $1 million in the Predecessor and Successor periods of the fourth quarter of 2019, respectively. The Company s fourth-quarter 2020 net loss was $200 million, compared to net income of $5.3 billion and a net loss of $26 million in the Predecessor and Successor periods of the fourth quarter of 2019, respectively. Fourth-quarter 2020 cash flows provided by operations were $22 million, compared to cash flows used in operations
Pine Cliff Energy Ltd. Provides Operations Update and Announces 2020 Year-End Reserves and 2021 Guidance
TSX: PNE) (
Pine Cliff or the
Company ) is pleased to provide an operations update and to announce its 2020 year-end reserves and 2021 guidance.
Operations Update
Pine Cliff s fourth quarter 2020 production averaged 19,130 Boe per day, weighted 91% to natural gas. This resulted in the average production for the year being 19,005 Boe per day, exceeding the Company s 18,500 to 19,000 annual 2020 guidance range. This production was achieved with the Company only spending $2.3 million on development drilling in 2020. Stable natural gas prices and the ability to produce natural gas into storage uninterrupted during 2020 enabled Pine Cliff to maximize production rates in 2020.
Loews Corporation Reports Net Income Of $397 Million For The Fourth Quarter Of 2020
22 Million Common Shares Repurchased In 2020 For $917 Million
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NEW YORK, Feb. 8, 2021 /PRNewswire/ Loews Corporation (NYSE: L) today reported net income of $397 million, or $1.45 per share, for the quarter ended December 31, 2020, compared to net income of $217 million, or $0.73 per share, in the fourth quarter of 2019. For the full year, Loews reported a net loss of $931 million, or $3.32 per share, compared to net income of $932 million, or $3.07 per share, in 2019.
CNA Financial Corporation drove net income for the fourth quarter of 2020 with strong property and casualty underwriting results, solid net investment income, and net investment gains. Boardwalk Pipelines also contributed positively to Loews s quarterly results.
(a)
Includes pre-tax charges of $7 million ($6 million after taxes) and $48 million ($37 million after taxes) for the three months ended September 30, 2020 and the twelve months ended December 31, 2020, respectively, for environmental remediation reserve adjustments, a pre-tax charge of $43 million ($33 million after taxes) for the twelve months ended December 31, 2020 for an asbestos litigation reserve adjustment, a pre-tax charge of $14 million ($11 million after taxes) for the twelve months ended December 31, 2020 for the removal of abandoned property at our mills, a net chargeof $11million (before and after taxes) for the twelve months ended December 31, 2020 associated withour investment in India, pre-tax income of $2 million ($1 million after taxes) for the twelve months ended December 31, 2020 for the accrual of a foreign value-added tax refund and a pre-tax charge of $5 million ($4 million after taxes) for the three months and twelve months ended December 31, 2020 for other
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CHARLES TOWN, W.Va., Feb. 3, 2021 /PRNewswire/ Potomac Bancshares, Inc. (the Company ) (OTC: PTBS), the one bank holding Company for Bank of Charles Town (BCT), for the quarter ended December 31, 2020 earned $1.142 million or $0.28 per share compared to $0.859 million or $0.21 per share for the quarter ended December 31, 2019, an increase of 33.3%. Net income for the year ended December 31, 2020 was $3.785 million or $0.92 per share compared to $3.213 million or $0.78 per share for the same period in 2019, an increase of 17.9%. The resiliency of the BCT team shined as we did not allow historic low interest rates, economic uncertainty or our pandemic response hinder our ability to post record results for 2020, stated Alice P. Frazier, President and CEO. Core loan and deposit growth through new banking relationships, aggressive decreases in deposit rates and expense management all contributed to our 17.9% growth in earnings despite